Following Lord Hill’s UK Listings Review Report in March 2021 on the proposed reforms for the UK equity capital markets, on 19 July 2022, the UK Secondary Capital Raising Review (“SCRR”) was published. The aim of the SCRR is to increase the efficiency of the capital raising process and facilitate companies raising money to develop quickly and attract new listed companies in the UK. The recommendations once implemented will improve the efficiency of secondary capital raisings by listed companies to help enhance UK markets to appear more appealing for issuers…

next steps

Current recommendations, concerning the pre-emption regime and retail investors could be actioned immediately. Near and medium-term recommendations are to require HM Treasury to pass the required legislation, and therefore these recommendations would come into effect over the near/medium term.

For more information, and any guidance or advice on the SCRR recommendations, Cleveland & Co External in-house counsel™, your specialist outsourced legal team, are here to help.

To read the full report on the UK SCRR click here.

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